Iradimed Corp (NASDAQ:IRMD) Short Interest Down 14.7% in September

Iradimed Corp (NASDAQ:IRMD) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 284,800 shares, a drop of 14.7% from the August 31st total of 334,000 shares. Approximately 4.6% of the company’s stock are sold short. Based on an average daily trading volume, of 49,900 shares, the short-interest ratio is currently 5.7 days.

A number of research analysts recently weighed in on IRMD shares. TheStreet lowered Iradimed from a “b” rating to a “c+” rating in a research report on Friday, July 31st. Roth Capital reduced their target price on Iradimed from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday, August 3rd. BidaskClub lowered Iradimed from a “sell” rating to a “strong sell” rating in a report on Wednesday. Finally, Zacks Investment Research lowered Iradimed from a “hold” rating to a “sell” rating in a report on Friday, August 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.00.

In related news, Director Monty K. Allen sold 9,062 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $22.22, for a total transaction of $201,357.64. Following the completion of the transaction, the director now owns 12,221 shares of the company’s stock, valued at approximately $271,550.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 50.90% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in Iradimed by 8.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 333,577 shares of the medical equipment provider’s stock valued at $7,739,000 after buying an additional 25,070 shares in the last quarter. Nine Ten Capital Management LLC grew its position in Iradimed by 112.7% during the first quarter. Nine Ten Capital Management LLC now owns 277,088 shares of the medical equipment provider’s stock worth $5,916,000 after buying an additional 146,816 shares during the period. RK Capital Management LLC lifted its holdings in shares of Iradimed by 15.2% in the second quarter. RK Capital Management LLC now owns 243,500 shares of the medical equipment provider’s stock valued at $5,652,000 after purchasing an additional 32,175 shares in the last quarter. Soleus Capital Management L.P. lifted its holdings in shares of Iradimed by 66.8% in the first quarter. Soleus Capital Management L.P. now owns 234,810 shares of the medical equipment provider’s stock valued at $5,013,000 after purchasing an additional 94,058 shares in the last quarter. Finally, Foundry Partners LLC purchased a new stake in shares of Iradimed in the second quarter valued at about $1,717,000. Institutional investors own 36.86% of the company’s stock.

Shares of Iradimed stock traded up $0.09 during trading hours on Thursday, hitting $21.47. The company’s stock had a trading volume of 21,523 shares, compared to its average volume of 48,895. The business has a 50 day moving average price of $21.72 and a two-hundred day moving average price of $21.66. Iradimed has a 12-month low of $14.41 and a 12-month high of $28.43. The company has a market cap of $261.84 million, a PE ratio of 49.72 and a beta of 1.27.

Iradimed (NASDAQ:IRMD) last announced its quarterly earnings data on Thursday, July 30th. The medical equipment provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.12. The business had revenue of $6.80 million for the quarter, compared to the consensus estimate of $5.53 million. Iradimed had a return on equity of 9.57% and a net margin of 14.74%. As a group, analysts predict that Iradimed will post 0.03 EPS for the current year.

Iradimed Company Profile

IRADIMED CORPORATION develops, manufactures, markets, and distributes magnetic resonance imaging (MRI) compatible medical devices, and related accessories and services in the United States and internationally. It offers MRI compatible intravenous (IV) infusion pump system with associated disposable IV tubing sets; and MRI compatible patient vital signs monitoring system.

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